AEO Options History — February 2013

In February 2013, AEO traded between $19.99 and $21.02. ATM implied volatility averaged 34.8%, placing in the 29.0% IV rank vs the trailing year. The 30-day expected move averaged 10.2%. IV traded above realized volatility by 8.1% (HV 20d: 26.7%). Max pain ranged from $20.00 to $20.00. Net GEX was positive for 19 of 19 trading days. Term structure was in contango for 0 of 19 days. Put/call ratio averaged 0.90.

Notable Days

2013-02-21: Highest Volume — 3,895 contracts
2013-02-25: Largest IV spike — 15.7% change
2013-02-25: Highest IV Rank — 47.1%
2013-02-25: Largest Expected Move — 11.5%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$20.47	$19.99	$21.02	$20.19	$20.68
Max Pain	$20.00	$20.00	$20.00	$20.00	$20.00
ATM IV	34.8%	27.9%	40.3%	27.9%	38.0%
Expected Move	10.2%	9.3%	11.5%	9.6%	10.9%
HV 20d	26.7%	21.3%	35.9%	35.9%	23.8%
HV 60d	30.9%	28.0%	32.6%	32.3%	28.2%
IV Rank	29.0%	6.2%	47.1%	6.2%	39.7%
IV Percentile	55.7%	4.4%	82.5%	4.4%	75.8%
Term Structure	-3.2%	-6.7%	-1.2%	-1.4%	-5.3%
VWIV	35.6%	31.4%	40.8%	34.9%	38.3%
Skew 25d	4.0%	0.0%	5.4%	4.7%	0.0%
Skew 10d	8.5%	-4.4%	18.0%	12.4%	-4.4%
Call IV 25d	34.0%	31.1%	38.8%	31.5%	38.8%
Put IV 25d	38.0%	35.7%	43.6%	36.2%	38.8%
Bid-Ask Spread %	16.21	11.82	23.01	12.68	18.55
Gamma HHI	0.18	0.13	0.26	0.13	0.22
Net GEX	748.3K	539.4K	1.4M	578.5K	747.4K
Net DEX	-15.2M	-21.6M	-9.9M	-12.3M	-17.3M
Net VEX	-234.7K	-249.9K	-221.7K	-233.2K	-243.9K
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.90	0.17	2.54	0.59	1.89
Total Volume	1,391.316	401	3,895	1,144	934
Total OI	54,484.737	46,543	58,541	54,440	54,003

Daily Data (19 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Vol	Put Vol	Call OI	Put OI
2013-02-01	$20.19	$20.00	27.9%	9.6%	35.9%	6.2%	34.9%	4.7%	-1.4%	578.5K	-12.3M	-233.2K	0.59	12.68	718	426	34,777	19,663
2013-02-04	$20.06	$20.00	31.0%	9.9%	35.6%	16.6%	31.4%	4.5%	-2.4%	546.4K	-10.8M	-227.1K	0.18	15.44	1,245	224	34,853	19,951
2013-02-05	$20.56	$20.00	29.8%	9.3%	34.1%	12.6%	31.5%	4.6%	-1.2%	740.0K	-16.2M	-236.7K	0.17	12.24	1,398	235	35,762	20,029
2013-02-06	$20.81	$20.00	31.8%	9.7%	33.3%	19.0%	34.0%	4.3%	-2.3%	915.2K	-19.8M	-243.8K	0.68	13.58	462	316	36,839	20,107
2013-02-07	$20.30	$20.00	35.3%	10.1%	34.2%	30.7%	34.2%	5.3%	-2.8%	743.3K	-14.3M	-233.1K	0.81	11.82	317	256	37,013	20,308
2013-02-08	$20.34	$20.00	34.2%	9.8%	31.9%	27.0%	34.2%	4.6%	-1.8%	740.6K	-14.1M	-231.6K	1.52	12.11	404	614	37,073	20,301
2013-02-11	$20.09	$20.00	34.8%	10.0%	28.3%	28.9%	34.8%	3.2%	-1.8%	630.0K	-11.5M	-227.5K	0.37	15.03	292	109	37,457	20,634
2013-02-12	$20.31	$20.00	34.3%	9.8%	27.1%	27.2%	34.1%	3.9%	-1.6%	732.1K	-13.9M	-228.6K	2.54	14.27	121	307	37,559	20,630
2013-02-13	$20.21	$20.00	34.1%	9.8%	21.3%	26.6%	33.8%	4.6%	-2.5%	707.4K	-12.3M	-224.5K	2.38	12.35	126	300	37,598	20,896
2013-02-14	$19.99	$20.00	35.5%	10.2%	21.3%	31.4%	35.3%	4.6%	-3.7%	539.4K	-9.9M	-221.7K	0.63	19.46	826	521	37,343	20,867
2013-02-15	$20.44	$20.00	35.4%	10.1%	22.1%	31.0%	34.4%	3.8%	-3.0%	1.4M	-14.6M	-228.2K	0.48	23.01	924	439	37,366	21,175
2013-02-19	$20.94	$20.00	34.2%	9.8%	23.8%	27.1%	35.6%	3.9%	-2.4%	717.0K	-17.5M	-230.8K	0.58	14.43	1,342	785	31,949	14,594
2013-02-20	$20.65	$20.00	35.8%	10.3%	24.0%	32.3%	36.7%	3.3%	-3.7%	698.8K	-15.9M	-234.1K	0.61	21.81	368	226	32,911	15,166
2013-02-21	$20.61	$20.00	35.9%	10.3%	21.5%	32.5%	37.9%	2.6%	-3.5%	701.1K	-15.6M	-230.7K	0.26	22.98	3,103	792	33,121	15,253
2013-02-22	$20.64	$20.00	34.8%	10.0%	21.3%	29.1%	36.9%	5.4%	-2.9%	775.7K	-17.8M	-246.0K	0.78	15.78	562	438	35,602	15,880
2013-02-25	$20.32	$20.00	40.3%	11.5%	22.0%	47.1%	39.4%	5.1%	-5.1%	690.5K	-14.9M	-239.3K	1.19	19.15	1,242	1,478	35,706	16,034
2013-02-26	$20.69	$20.00	38.7%	11.1%	22.9%	41.8%	38.9%	3.9%	-6.0%	767.5K	-18.1M	-248.8K	0.96	16.76	652	628	36,295	16,863
2013-02-27	$21.02	$20.00	39.4%	11.3%	23.1%	44.1%	40.8%	3.1%	-6.7%	853.3K	-21.6M	-249.9K	0.45	16.63	2,279	1,026	36,630	17,002
2013-02-28	$20.68	$20.00	38.0%	10.9%	23.8%	39.7%	38.3%	0.0%	-5.3%	747.4K	-17.3M	-243.9K	1.89	18.55	323	611	36,500	17,503